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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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From: ldo79	9/5/2007 8:21:11 AM
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Layoffs surge 85% on mortgage meltdown: report By Rex Nutting, MarketWatch Last Update: 7:30 AM ET Sep 5, 2007 WASHINGTON (MarketWatch) -- Tens of thousands of jobs were lost in August because of the widening problems in the mortgage industry, according to the monthly tally of layoff notices released Wednesday by outplacement firm Challenger Gray & Christmas. (snip) There haven't been such dramatic losses in one sector of the economy since the airline industry's response to Sept. 11 in 2001, Challenger said. "Unfortunately, these cuts are likely to be just the beginning," Challenger said. More than 2.9 million workers are employed in credit intermediation and related activities. tinyurl.com

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